17.6 C
March 23, 2023

Farmache: Last year’s stock market profit to be fully distributed to shareholders

The Bucharest Stock Market (BVB) will fully distribute to its shareholders the net profit it reported in 2009, namely approximately RON 8 M, Stere Farmache, president of the administration board, stated for Mediafax. Thus, the gross dividend will stand slightly above RON 1 per share, below the RON 1.3 level per share registered in 2008 back when the total value of dividends stood at RON 10.01 M.

The stock market’s Council has decided to convene a general meeting of shareholders on April 30 in order to talk about the financial results reported last year and the manner of distributing the net profit. The meeting’s agenda will also include the approval of the budget and business plan for 2010, as well as the appointment of the BVB’s financial auditor. The brokerage companies that have representatives within the BVB Council will not take part in the selection of the operation’s intermediary.

In 2009 BVB reported a net profit of RON 8 M, almost 25 per cent lower than the RON 10.6 M net profit reported in 2008. The BVB revenues totaled RON 23.5 M in 2009, down by 25.5 per cent compared to the year before, while its expenditures stood at RON 13.9 M, 27.9 per cent smaller than the RON 19.28 M registered in 2008. The turnover reported by BVB in 2009 stood at approximately RON 12 M, 42.5 per cent lower than the 2008 level of RON 20.88 M. The BVB has a registered capital of RON 76.74 M or 7.67 million shares with a nominal value of RON 10. BVB currently has 327 shareholders of which 241 are companies.

Related posts

Buyers for GSK factory in Brasov wanted to prevent shutdown

Nine O' Clock

Finance Ministry sells benchmark bonds worth RON 330.16 M

Nine O' Clock

Motorway company holds infrastructure revamp tenders